Tonbridge Power Inc.

Tonbridge Power Inc.

April 04, 2006 11:15 ET

Tonbridge Power Inc. Files Preliminary Prospectus for Public Offering of Units

TORONTO, ONTARIO--(CCNMatthews - April 4, 2006) -


Tonbridge Power Inc. (TSX VENTURE:TBZ) (the "Company") is pleased to announce that it has filed a preliminary prospectus in connection with the proposed public offering of units of the Company. Each unit is comprised of one common share of the Company and one-half of one share purchase warrant. Each whole share purchase warrant will entitle the holder thereof to acquire one common share of the Company for a period of 18 months from the closing of the offering.

The Company is the controlling shareholder of Montana Alberta Tie Ltd., which is developing the Tonbridge Power Line project to interconnect the electricity markets of Alberta and the US through a 300 MW transmission line.

The Company proposes to use the net proceeds of the offering to pay the costs of finalizing the design of the Tonbridge Power Line, fund deposits on engineering, procurement and construction contracts, complete the permitting and regulatory process in respect of the Tonbridge Power Line, acquire the remaining rights of way and fund general working capital.

The underwriting group in connection with this offering includes CIBC World Markets Inc. and Orion Securities Inc.

The price of the units will be determined by negotiation between the underwriters and the Company prior to filing a final prospectus. The company has granted the underwriters an option to purchase the number of additional units equal to up to 15% of the units issued at any time prior to the closing of the offering.

The offering is subject to normal regulatory approvals. A copy of the preliminary prospectus has been filed via SEDAR (

Forward Looking Information

Certain information regarding the Company set forth in this document, including the closing of the offering, management's assessment of the Company's future plans and operations and use of proceeds contains forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, some of which are beyond the Company's and management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of foreign exchange rates, environmental, construction, regulatory and financing risks, debt and cash requirements, industry competition and performance or achievement could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated to occur or transpire from the forward-looking information will provide any benefits.

This press release does not constitute an offer of securities for sale in the Untied States. The securities being offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration requirements.

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The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved the contents of this press release.

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